Borealis is acquiring the business from its joint-venture owners DSM Nederland BV and ExxonMobil Chemical Co., which each hold a 50 percent share. No terms were announced.

DEXPlastomers has two product families in its portfolio. Its Exact metallocene plastomers are low density materials that bridge the gap between conventional polyolefins and elastomers. They are used in blends with polyolefins in flexible packaging, film, sheet and other applications.

The Stamylex range of products are octane linear low and high density polyethylenes, used in a variety of specialty film, molding and extrusion coating applications.

Borealis said in a statement: “The products of DEXPlastomers are specialties complementary to Borealis’ current innovative plastic solutions. The agreement made with ExxonMobil Benelux Holdings BV and DSM Nederland BV underpins Borealis’ commitment to its Value Creation through Innovation strategy, as Borealis believes there is significant potential in DEXPlastomers’ technology.”

DSM said DEXPlastomers’ sales in 2012 are expected to be approximately 180 million euros ($228 million). There are 95 DSM employees affected by the transaction.

DSM said: “For DSM, a sale of DEXPlastomers is in line with its long-term focus of being a Life Sciences and Materials Sciences company, active in health, nutrition and materials.”